Spanish Multinational GC Participants Launch MDG Campaign

(Madrid, 11 January 2007) – Eleven Spanish multinationals
participating in the Global Compact have launched a campaign in support of the
Millennium Development Goals (MDG) to addressing 650,000 employees in over 100
countries, as well as 780 million consumers worldwide.

The campaign, entitled “2015, a better world for Joana”, was first introduced
at the Forum for Corporate Reputation (Foro de Reputacion Corporativa) in Madrid
on 11 January, in a ceremony chaired by Her Royal Highness, Princess Cristina of
Spain and her husband, the Duque of Palma. Joanna is the name of a nine-year-old
Spanish girl who symbolizes millions of children around the world who will reach
the age of 18 in 2005, the target year for the achievement of the MDGs. Until
then, Joana will be the voice and the conscience of the MDGs.

The companies co-sponsoring the campaign are Abertis, Grupo Agbar, BBVA,
Ferrovial, Gas Natural, Iberdrola, Iberia, Novartis, RENFE, Repsol YPF, and
Telefonica. Cesar Alierta, Chairman of Telefonica and Chair of the Foro de
Reputacion Corporativa in 2006, explained that the campaign idea followed from
the companies’ commitment to good corporate citizenship and to partnership with
the UN in order to create wealth and well-being in all their countries of
operation.

Mr. Soren Petersen, representing the United Nations Development Programme
(UNDP) at the event, highlighted the importance of partnerships with the private
sector for the achievement of the MDGs. Dr. Manuel Escudero, speaking on behalf
of the Global Compact, emphasized the unique importance of the campaign
while explaining that the MDGs and the Global Compact represent two sides of the
same coin, as the MDGs will only be reached with the active participation of
companies that have embraced the cause of corporate citizenship. Dr. Escudero
invited participating CEOs to present their campaign at the upcoming Global
Compact Leaders Summit, to be held on 5-6 July 2007 in Geneva, expressing hope
that the idea can serve as an inspiration to other GC participants around the
world.